Cryptocurrency ATM company CoinFlip has added support for Stellar Lumens (XLM) in its 450 ATM machines across the U.S., reports Coindesk, February 6, 2020.
Buy XLM from ATM Machines
Digital currency ATM startup CoinFlip has added Stellar’s native digital token, XLM, to its list of offered cryptocurrencies. According to CoinFlip CEO, and co-founder, Daniel Polotsky, customers will now be able to purchase Stellar Lumens from its network of machines.
Polotsky said that the addition of XLM to CoinFlip’s arsenal of digital currencies will increase XLM’s availability in brick-and-mortar stores. For the uninitiated, CoinFlip is one of the largest cryptocurrency ATM firms operating in the space with about 450 ATMs in gas stations and convenience stores across the U.S.
These ATMs allow customers to buy digital assets with credit cards from a slew of cryptocurrencies including Bitcoin (BTC), Ether (ETH), Litceoin (LTC), Dash (DASH), Komodo (KMD), Chainlink (LINK), and Tron (TRX), among others.
Notably, the startup also runs 40 two-way ATM locations which enable users to sell the digital assets for fiat, e.g. USD.
Polotsky added that the decision to introduce support for XLM was taken after considering the altcoin’s high daily liquidity and market prominence, along with the persistent customer demand. The CEO added that CoinFlip plans to continue adding digital tokens as it rapidly expands its own ATM network. Notably, the company already has clearance to operate in more than 40 states in the U.S. and is trying to launch at least 20 new ATMs every week.
Crypto ATMs Expanding their Footprint
The cryptocurrency ATM space seems to be witnessing exponential growth as the fundamentals surrounding digital currencies continue to get stronger.
As reported by BTCManager on September 20, 2019, Bitcoin mapping platform “bitrawr” had stated that there has been a six-fold increase in the total global crypto ATM count compared to previous year data.
In similar news, reports emerged in October 2019 stating that Miami-based fintech startup Bitstop had installed Miami International Airport’s first Bitcoin ATM.
On a recent note, BTCManager informed its audience how crypto firm Coinme had enabled the residents of greater Sacramento to purchase Bitcoin at 100 Coinstar kiosks installed across Save Mart, Safeway and Food Maxx supermarkets.